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An economy begins in longrun equilibrium. Suppose OPEC suddenly collapsed and oil prices plummeted. (a) ('0) Explain what would happen to the shortrun equilibrium. That is, sketch a graph and on it indicate what would happen to the shortrun aggregate supply (AS) and aggregate demand (AD) curves, output (Y), and the aggregate price level (P). The economic outcome of stabilization policy depends on the goal of the central bank. Let's assume that Central Bank A cares only about keeping the price level stable whereas Central Bank B cares only about keeping output and employment at their natural levels. Explain how each Central Bank would respond to this aggregate supply shock